Pacific Crest Downgrades Nanometrics (NANO) to Sector Weight
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Pacific Crest downgraded Nanometrics (NASDAQ: NANO) from Overweight to Sector Weight and removed its price target. Analyst Weston Twigg recommended reducing positions in semiconductor equipment.
"We anticipate order declines and limited demand growth for semiconductor equipment names as 3D NAND equipment demand is likely to peak in 2017, while logic/foundry demand remains mixed and DRAM demand remains low. Sector valuations are reasonable, so we do not see meaningful near-term downside risk, but further stock appreciation may be limited. We are lowering our ratings for LRCX and NANO to Sector Weight, and we remain Overweight on AMAT, MKSI and ENTG for longer-term opportunities," said Twigg.
Shares of Nanometrics closed at $21.39 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Needham & Company Reiterates Buy on TTM Technologies (TTMI) Following 3Q
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesPacific Crest Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!